Che Required information (The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 100 units @ $50 per unit 400 units @ $55 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 420 units @ $85 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 120 units 200 units @ $60 per unit @ $62 per unit @ $95 per unit 160 units 580 units 820 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Perpetual FIFO: Cost of Goods Sold Goods Purchased of 3 Date Cost per unit # of units # of units sold Inventory Balance Cost per # of units unit Inventory Balance Cost per unit Cost of Goods Sold March 1 100 at $ 50.00 $ 5,000.00 March 5 Total March 5 pok March 9 Total March 9 int March 18 ences Total March 18 March 25 Total March 25 March 29 Total March 29 Totals $ nnn 0 nol CP Inventory Balance art 3 of 3 Perpetual LIFO: Cost of Goods Sold Cost per Cost of Goods Sold unit Date Goods Purchased Cost per # of units unit Cost per # of units sold # of units unit Inventory Balance March 1 100 at $50.00 = $ 5,000.00 nts March 5 Total March 5 eBook March 9 Total March 9 Print o March 18 Ceferences Total March 18 March 25 Total March 25 March 29 Total March 29 S Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per Cost per Cost per # of units # of units sold Cost of Goods Sold # of units unit unit unit Inventory Balance March 1 100 at $ 50.00 = $ 5,000.00 March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals $ 0.00 Required information Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 80 units from units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per unit # of units Cost of Goods Available for Sale Cost per # of units sold Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory unit March 1 $ 0 $ 0.00 $ $ 0.00 $ 0 March 5 0 0.00 Ooo 0.00 March 18 0 0.00 0.00 Oo oo March 25 0 0.00 Total 0 $ 0 0 $ 0 0 $
